Word: corp
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Dates: during 1960-1969
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Getting the Word. He chose the wrong mark. Mackle, co-owner with his two brothers of the $65 million Deltona Corp., is acquainted with some of the most influential political figures in the U.S. The FBI agents received orders directly from J. Edgar Hoover, while Florida state police were getting the word from Democratic Senator George Smathers. And Barbara Jane was visited last week by family friend Richard Nixon, who urged her to write a book about the ordeal...
...Pinkerton's, Inc. (see BOOKS), the 118-year-old outfit that went public in 1967 at $23 a share, is now trading at $51. Federal Sign and Signal, a Chicago maker of police sirens, has gone from $19 to $42 in the past year. American Safety Equipment Corp., whose sales of $26.75 police helmets more than tripled in 1968, has jumped from $10 to $16. Other companies in the police market have seen their stocks rise...
Some new entrants in the field have novel ideas for handling riots. Fort Worth's Western Co. of North America, an oilfield-service firm, has developed a slippery powder called Instant Banana Peel, which is guaranteed to turn any street rumble into a sit-in. Baltimore-based AAI Corp.. a defense contractor, has come up with a tear-gas grenade with two crowd-control virtues: it has no shrapnel hazard, and it expels its chemicals in seconds-before it can be picked up and pitched back at the police. A company official says that its grenade sales doubled...
...from Billy Clubs. Though the industry remains balkanized, takeovers and acquisitions are increasing. The biggest and broadest-gauged company in the field is Bangor Punta Corp., a Manhattan-based conglomerate that has acquired five suppliers of law-enforcement equipment over the past three years. Among them is the maker of Chemical Mace, the liquid-tear-gas spray. Sales of law-enforcement equipment now account for about 9% of the Bangor Punta's $259 million annual sales and 30% of its $22 million pre-tax profits. The company broke into the market in 1965 by acquiring Smith & Wesson, whose revolvers...
Point of Honor. The company's research-and-development department never ceases. A Bangor Punta subsidiary, General Ordnance Equipment Corp., which has done very well with its highly profitable Mace, has another comer in a 25-lb. device that generates a billowing smoky haze called Pepper Fog. The $395 tubular generator can be slung and aimed from the shoulder, and it has cleared 400 rioting prisoners from a large building in 2½ minutes. The company, having sold what it had thought would be a full year's supply in four months, has lately increased production facilities fivefold...